Paypal u.s./twd exchange rate seems wrong

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Paypal u.s./twd exchange rate seems wrong

Postby syrianrue » 21 Mar 2012, 13:11

i just purchased something online using the visa card in Taiwan... it went through fine, however, i noticed that paypal has the exchange rate wrong. as of today, the exchange rate should be about 1 u.s. dollar = $29 something twd... but on paypal it says it's about $32.20

anyone have any clue as to why?
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Re: Paypal u.s./twd exchange rate seems wrong

Postby SillyWilly » 21 Mar 2012, 13:50

syrianrue wrote:i just purchased something online using the visa card in Taiwan... it went through fine, however, i noticed that paypal has the exchange rate wrong. as of today, the exchange rate should be about 1 u.s. dollar = $29 something twd... but on paypal it says it's about $32.20

anyone have any clue as to why?



Think it just means you're getting screwed by PayPal, pal. +-9% premium on spot price. Jeezzz! :no-no:
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Re: Paypal u.s./twd exchange rate seems wrong

Postby creztor » 29 Mar 2012, 14:26

Very normal. Paypal allows you to easily move money around, so of course they get their cut. It has been more than worth it for me in the past when I used them.
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Re: Paypal u.s./twd exchange rate seems wrong

Postby kevinsang01212 » 31 Mar 2012, 08:38

yep, the last time I received some payment thru Paypal, I had to pay fees and the exchange rate.

Overall, I lost about 200 usd. Damn

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Re: Paypal u.s./twd exchange rate seems wrong

Postby Taiwan Luthiers » 05 Apr 2012, 01:02

kevinsang01212 wrote:yep, the last time I received some payment thru Paypal, I had to pay fees and the exchange rate.

Overall, I lost about 200 usd. Damn

Kevin


Next time, click on the option that allows your bank to determine the exchange rate rather than let paypal determine that for you. I find that the bank's rate is always significantly lower than paypal's rate even though you won't see it up front.
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Re: Paypal u.s./twd exchange rate seems wrong

Postby tsukinodeynatsu » 07 Apr 2012, 23:32

Paypal's apparently changed their fees lately, from 2% up to $1 to 2% up to $20. :noway:
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